The Argentinian cryptocurrency exchange, as well as a provider of digital wallets – Lemon Cash – has established cooperation with the cryptocurrency payment processor – OpenNode. Argentine customers will be able to utilize the Lightning Network to make payments using bitcoin.
OpenNode partners with Lemon Cash
As a Fintech company from Latin America, Lemon Cash specializes in providing digital wallets and cryptocurrency exchange services. The official press release indicates that the company has partnered with OpenNode, which allows its customers to make bitcoin payments via Lightning network.
This is certainly great news for all enthusiasts of the original cryptocurrency from Argentina. The country has recorded a jump in inflation levels of over 60% in the last 12 months. What’s more, the country ranks 10th in the world in terms of cryptocurrency adoption.
The services offered by Lemon are already used by over a million customers in the Latin American region. Now, thanks to the integration with OpenNode, Lemon Cash customers will be able to carry out bitcoin transfers while maintaining low fees and short settlement times through the Lightning Network.
The introduction of the Lightning Network for over a million of our users in partnership with OpenNode will be a huge step towards our main goal of making cryptocurrencies more useful and accessible in LATAM.
– comments the new initiative co-founder of Lemon Cash, Borja Martel Seward.
LATAM, a region covering the whole of Latin America, has a much higher level of adoption of bitcoin and other cryptocurrencies than most other countries in the world. Argentina itself ranks 10th in the world according to a report by Chainalysis. Countries that have seen higher inflation rates have a greater tendency to rely on bitcoin as a store of value. Recall that inflation in Argentina is already over 60%.
“This partnership is another example of our capabilities and belief in bitcoin as a new baseline for global payments,” said Josh Held, Head of Strategy at OpenNode.
The Visa Group works with Fintech companies
The Visa payment company, one of the world’s largest payment companies, announced its new product a couple of weeks ago. Specifically, it introduced a range of cryptocurrencies-supporting cards to Latin America. A number of Fintech startups from that region collaborated with this initiative, which will allow Visa card holders to make cryptocurrency payments and purchase them at any place that accepts Visa cards. In addition, they will have the opportunity to receive cashback for making purchases in BTC. We wrote more about it here.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.